Triangle Energy has taken 100 per cent control of its promising Perth Basin L7 and EP 437 permits and is now on the hunt for a funding partner. The move solidifies Triangle's Australian portfolio as it pursues a “divide and conquer” strategy, spinning out its Asian gas assets into the ASX-bound Tetragon Energy to create two distinct, growth-focused energy businesses.
Triangle Energy has promoted Rory McGoldrick to chief executive officer as part of a broader reset following the spinout of its wholly owned Tetragon Energy. The company will focus on its Perth Basin and United Kingdom gas assets, while progressing the Cliff Head divestment. Former managing director Conrad Todd has shifted to a non-executive role and will lead Tetragon Energy ahead of its planned ASX listing.
